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Latin America, Caribbean and Agricultural Risks

Our market presence

We are present in almost all markets of the Caribbeans and especially of Latin America. Since capital resources are quite often at a relatively low level in the region, reinsurance demand is generally high. We are prepared to satisfy this demand in all classes of business.

Our strategy

It is our goal to further expand in the region, provided we can achieve a sufficient return on the capital we put at risk. Our partners and potential partners will accept that continuity is possible only on the basis of sufficiently attractive returns for our shareholders, the prerequisite valid for our Non-Life business world-wide - please refer to our paramount underwriting strategy under the following: our strategy.

Motor Business

Motor insurance continues to be the most important line of business for the insurance industry in Latin America. It should be noted, however, that mandatory insured limits are sometimes very low. With the exception of Argentina, Brazil, and Mexico, premium volumes generated under this class are, therefore, also somewhat restricted.

Natural catastrophes

Due to the high natural catastrophe exposure in Latin America, the property class together with allied natural perils is heavily reinsured. In recent years the industry suffered substantial losses caused by natural catastrophes - hurricanes "Mitch" and "Georges", flooding in Venezuela, earthquakes in Colombia and El Salvador. They have prompted original rate increases and have had a remedial effect also on reinsurance conditions. The level of original rates should, however, still be raised in some of our markets, before we would be able to really call it satisfactory.